Pensions

Treasury written question – answered on 4th February 2004.

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Photo of Andrew George Andrew George Shadow Minister (Environment, Food and Rural Affairs), Shadow Minister (Environment, Food and Rural Affairs)

To ask the Chancellor of the Exchequer what assessment he has made of the impact of the changes proposed in his pre-Budget statement in respect of Self Investment Personal Pensions upon (a) availability of housing for rent, (b) the amount and proportion of second and holiday homes, (c) the availability of housing in areas with a high preponderance of second and holiday homes and (d) other aspects of the housing market.

Photo of Ruth Kelly Ruth Kelly Financial Secretary, HM Treasury

The Government's technical paper "Simplifying the taxation of pensions: the Government's proposals" proposes allowing pension funds to invest in all types of investments, including residential property. The impact of this change, if introduced, will depend on the extent to which trustees and administrators decide that residential property is a suitable pension scheme investment.

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